Vodafone group revenue dips over £385 million on the year

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Total revenue for the giant ended on €11.8 billion (£10.3bn), UK revenue grew €99 million (£86.3m)

Vodafone has reported a 3.6 per cent loss in revenue of the third quarter of its 2017-18 financial year.

The loss equates to €442 million (£385m) and is put down to sale of its Dutch arm, Vodafone Netherlands to Deutche Telekom.

In the UK, service revenue shrunk 4.8 per cent to €1.5 billion (£1.3bn) however overall revenue grew 5.8 per cent mainly due to the increase in broadband consumers which now stands at 316,000 customers after adding 39,000 households in Q317.

Organic growth was impeded by handset financing and mobile service revenue also continued to decline in Q3 5.2 per cent, following a 3.9 per cent decline in Q2. However total contract customers grew by 6,000 and, excluding Talkmobile, net additions to the network grew by 41,000 throughout Q3 on top of the 26,000 added in Q2.

Commenting on the results, Vodafone group chief executive Vittorio Colao said: “We have maintained good commercial momentum in the third quarter.

“We made strong progress with out fixed and converged strategy, achieving our best ever quarter for customer growth in high speed broadband in Europe.”

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